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Weekly Mortgage Market Update for Jan 2, 2020

By Brian Skaar

Mortgage and Lending with VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender NMLS 220268 / 3035

January 02, 2020 12:03 PM

For the Week Ending January 2, 2020

30 YEAR FIXED MORTGAGE RATES

Please enjoy this quick update on what happened this week in the housing and financial markets.

	Rates, including those for mortgage loans, hovered near historic lows in 2019 and helped propel the stock market to record highs. Stocks in 2019 gained almost 29%, the most since 2013.
	Confidence among consumers climbed to the highest level in 5 months in December, as Americans grew more optimistic about the economy and their personal finances.
	Jobless claims dropped to a 4-week low at the end of last year, the latest signs that the labor market remains robust. This was the 3rd straight drop in unemployment filings.


	The Case-Shiller National Home Price Index rose 3.3% year-over-year in October, rising from September's pace. Prices are 15% higher than the last peak in July 2006.
	The Federal Housing Finance Agency also released data supporting higher home prices, with a 0.2% increase month-over-month in October and a 5% increase year-over-year.
	Estimated October construction spending of $1.29 billion was 1.1% higher than the previous year. Single-family housing starts were up 2% over September.

"New year - a new chapter, new verse, or just the same old story? Ultimately we write it. The choice is ours."
Alex Morritt

Here is the Video version of this week's Markets in a Minute:

If you have any questions on the market, loan qualification, or just want to get started on your loan, click the button below to get started online, or give me a call at 866-900-2342 toll free direct.